host hotels & resorts
Island Capital Group and MCR Acquire Sheraton New York Times Square Hotel for $373M
Island Capital | April 20, 2022
Joint venture marks the second high-profile hotel transaction between Island Capital and MCR and demonstrates continued optimism in the recovery of New York City's hospitality industry NEW YORK, April 20, 2022 -- MCR, a leading hotel investor and the third-largest hotel owner-operator in the United States, and Island Capital Group LLC ("Island Capital"), a leading international real estate merchant bank that controls a diverse group of real estate services companies engaged in fund management, principal investment, and financial advisory and consulting services, today announced that they have jointly acquired the Sheraton New York Times ...
Host Hotels & Resorts Acquires 319-Room Hotel Van Zandt for $246M
Host Hotels & Resorts | February 3, 2022
BETHESDA, Md., Feb. 03, 2022 -- Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in the Hotel Van Zandt, a 319-room luxury lifestyle hotel in Austin, Texas for a purchase price of approximately $246 million including its $4 million FF&E reserve. The net acquisition price of approximately $242 million represents a 13.2x multiple on 2019 EBITDA1 and stabilization is expected in the 2025-2027 timeframe at approximately 10-12x EBITDA1. The Company funded the acquisition with approximately $140 million in ...
Host Hotels & Resorts Acquires The Alida, Savannah for $103 Million
Host Hotels & Resorts | December 21, 2021
BETHESDA, MD - December 21, 2021 - Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in The Alida, Savannah, a 173-room boutique hotel, for approximately $103 million in cash. This newly constructed hotel opened in October 2018 and benefits from soft branding in Marriott’s Tribute Portfolio. Rooms average 371 square feet with high ceilings, hardwood floors, built-in window seats and marble bathrooms. The hotel offers 11,570 square feet of meeting space (5,170 indoor), four F&B outlets including a roof...
Host Hotels & Resorts, Inc. Reports Results for Second Quarter 2021
Host Hotels & Resorts | August 9, 2021
BETHESDA, Md. – August 9, 2021 – Host Hotels & Resorts, Inc., the nation’s largest lodging real estate investment trust (“REIT”), today announced results for second quarter 2021. OPERATING RESULTS (unaudited, in millions, except per share and hotel statistics) Quarter ended June 30, Percent Change Percent Change Year-to-date ended June 30, Percent Change Percent Change 2021 2020 vs. Q2 2020 vs. Q2 2019(2) 2021 2020 vs. Q2 2020 vs. Q2 2019(2) Revenues $ 649 $ 103 530.1 % (56.2 )% $ 1,048 $ 1,155 (9.3 )% ...
Host Hotels & Resorts Acquires Baker’s Cay Resort Key Largo for $200 Million
Host Hotels & Resorts | July 6, 2021
BETHESDA, MD - July 6, 2021 - Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in the 200-room Baker’s Cay Resort Key Largo, Curio Collection for approximately $200 million in cash. The purchase price represents an estimated 6.2% capitalization rate and a 14.5x EBITDA multiple based on 2021 property forecasts.(1) James F. Risoleo, President and Chief Executive Officer, said, “We are pleased to announce the off-market acquisition of our first hotel in the Florida Keys which we believe will improve the...
Host Hotels & Resorts Acquires Four Seasons Resort Orlando at Walt Disney World Resort for $610 Million
Host Hotels & Resorts | May 6, 2021
BETHESDA, Md. - May 04, 2021 - Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced that it has acquired the fee simple interest in the 444-room Four Seasons Resort Orlando at Walt Disney World® Resort for approximately $610 million in cash. Located within Walt Disney World® Resort, one of the most visited destination resorts in the world, the hotel sits on 289 acres, provides complimentary transport to four Walt Disney World® Resort theme parks, and is the only AAA Five Diamond-rated hotel in Central Florida. James F. Risoleo, Pres...
Host Hotels & Resorts Acquires Hyatt Regency Austin for $161 Million
Host Hotels & Resorts | March 17, 2021
BETHESDA, Md. - March 17, 2021 - Host Hotels & Resorts, Inc., the nation’s largest lodging real estate investment trust (“REIT”), today announced that it has acquired the fee simple interest in the 448-room Hyatt Regency Austin in Austin, Texas for approximately $161 million in cash. The purchase price represents a 10.0% capitalization rate and an 8.8x EBITDA multiple based on 2019 actual results(1) and reflects a 20-25% discount to pre COVID-19 pricing based on comparable publicly-disclosed hotel sales.(2) Hyatt will continue to manage Hyatt Regency Austin under a long-term management agreement. James F. Risoleo, President and...
Host Hotels & Resorts, Inc. Reports Results for 2020
Host Hotels & Resorts | February 19, 2021
BETHESDA, Md., Feb. 19, 2021 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the fourth quarter and full year 2020. James F. Risoleo, President and Chief Executive Officer, said, “We continued to grow sequential revenues while minimizing operating expenses in the fourth quarter and further reduced our net loss and hotel-level operating losses from third-quarter levels. With accelerating vaccine deployment, decreasing weekly COVID-19 case counts and the easing of lockdowns, we are encouraged by recent booking activitie...
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